Unit 7: Business Strategy
SCENARIO
You are an external consultant and you have been brought in to work with the strategy team of Emirates group. They are expecting some influence from you about the direction of their current strategy and the way forward for 2014’s strategy.
As part of your consultation work, including research, analysis, and evaluation you will need to:
- Understand the process of strategic planning
- Be able to formulate a new strategy
- Understand approaches to strategy evaluation and selection
- Understand how to implement a chosen strategy
Formulate a new strategy
Analyse how the business environment is considered in strategy formulation
2.1 – Produce an organizational audit for the chosen organisation
Guideline to achieve a pass on criteria 2.1
- Introduce the company chosen to complete the task
- State the organisations mission & objectives for the planning period
- Complete SWOT analysis
- Identify the organisation’s core competencies , critical success factors and limiting factors
2.2- Carry out an environmental audit for the organisation
Guideline to achieve a pass on criteria 2.2
To complete this criterion you are required to review various external environmental factors which could pose challenges for the organisations. You need to complete:
- A detailed PESTEL analysis
- Competitor’s analysis using Porters 5 Forces theory.
2.3-Explain the significance of stakeholder analysis
Guideline to achieve a pass on criteria 2.3
Stakeholder analysis is important for the development of an organisation. To understand and explain the importance of stakeholder’s analysis you have to complete the following points:
- Identify and list at least 5 stakeholders for your organisation
- Complete a stakeholders map explaining relationship and patterns of interdependence between stakeholders
- State the interest of each stakeholder
- Explain the importance of developing and maintaining relationships with them
M1 Compare the influence of the external environment on any other organisation of your choice and the one chosen to complete the pass criteria
D1 Evaluate how external factors, over a specified future period, may impact on the business activities, strategy, internal structure, functional activities and stakeholders of a specified organisation
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